Ormond's apartments and units are seeing unprecedented interstate investment this month. Investors from interstate see Melbourne as undervalued, both against other capitals and against replacement cost, and Ormond's entry-level stock is squarely in their sights.
They are competing with local first home buyers, who are placing a high value on usable outdoor space. A decent courtyard or balcony is genuinely moving the needle on price at this end of the market.
Further up, family homes are trading on need rather than speculation. Stock is limited, competition is thinner than it will be in spring, and well-priced homes are finding their buyer.
Median sale price for houses in Ormond is $1,666,000, up 0.7% from last year.
Median sale price for units in Ormond is $611,000, up 1.8% from last year.
Properties sold for houses in Ormond is 78, up 9.9% from last year.
Properties sold for units in Ormond is 89, up 14.1% from last year.
Auction clearance for houses in Ormond is 71.1%, up 1.5% from last year.
Auction clearance for units in Ormond is 75.6%, down 0.8% from last year.
Av days on market for houses in Ormond is 50, down 41.9% from last year.
Av days on market for units in Ormond is 40, down 24.5% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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